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Amazon.com to Acquire Twitch
|By Business Wire
|August 25, 2014 04:00 PM EDT
Amazon.com, Inc. (NASDAQ: AMZN) today announced that it has reached an
agreement to acquire Twitch Interactive, Inc., the leading live video
platform for gamers. In July, more than 55 million unique visitors
viewed more than 15 billion minutes of content on Twitch produced by
more than 1 million broadcasters, including individual gamers, pro
players, publishers, developers, media outlets, conventions and
stadium-filling esports organizations.
“Broadcasting and watching gameplay is a global phenomenon and Twitch
has built a platform that brings together tens of millions of people who
watch billions of minutes of games each month – from The International,
to breaking the world record for Mario, to gaming conferences like E3.
And, amazingly, Twitch is only three years old,” said Jeff Bezos,
founder and CEO of Amazon.com. “Like Twitch, we obsess over customers
and like to think differently, and we look forward to learning from them
and helping them move even faster to build new services for the gaming
“Amazon and Twitch optimize for our customers first and are both
believers in the future of gaming,” said Twitch CEO Emmett Shear. “Being
part of Amazon will let us do even more for our community. We will be
able to create tools and services faster than we could have
independently. This change will mean great things for our community, and
will let us bring Twitch to even more people around the world.”
Twitch launched in June 2011 to focus exclusively on live video for
gamers. Under the terms of the agreement, which has been approved by
Twitch’s shareholders, Amazon will acquire all of the outstanding shares
of Twitch for approximately $970 million in cash, as adjusted for the
assumption of options and other items. Subject to customary closing
conditions, the acquisition is expected to close in the second half of
Amazon opened on the World Wide Web in July 1995. The company is guided
by three principles: customer obsession rather than competitor focus,
passion for invention, and long-term thinking. Customer reviews, 1-Click
shopping, personalized recommendations, Prime, Fulfillment by Amazon,
AWS, Kindle Direct Publishing, Kindle, Fire phone, Fire tablets, and
Fire TV are some of the products and services pioneered by Amazon.
Twitch is the leading live video platform and community for gamers where
more than 55 million have gathered to broadcast, watch and talk about
video games. Twitch’s video platform is the backbone of both live and
on-demand distribution for the entire video game ecosystem. This
includes game developers, publishers, media outlets, events, user
generated content and the entire esports scene. In February 2014, The
Wall Street Journal ranked Twitch as the 4th largest website in terms of
peak internet traffic in the U.S., fortifying the brand as an
entertainment industry leader and the epicenter of social video for
gamers. For more information, visit: www.twitch.tv
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Actual results may differ significantly
from management's expectations. These forward-looking statements involve
risks and uncertainties that include, among others, risks related to
competition, management of growth, new products, services and
technologies, potential fluctuations in operating results, international
expansion, outcomes of legal proceedings and claims, fulfillment and
data center optimization, seasonality, commercial agreements,
acquisitions and strategic transactions, foreign exchange rates, system
interruption, inventory, government regulation and taxation, payments
and fraud. More information about factors that potentially could affect
Amazon.com's financial results is included in Amazon.com's filings with
the Securities and Exchange Commission, including its most recent Annual
Report on Form 10-K and subsequent filings.
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